Nykaa IPO: Heroine’s IPO of 5,352 crores opened, this is the issue price of the company that has become a unicorn
Nykaa, the top company in the beauty and personal care segment, has earned Rs 5,352 crore from Thursday. IPO (initial public offering) has been launched. Under this IPO, the company is bringing a fresh issue of Rs 630 crore in the primary market offering. In this, an offer for sale of 4.19 crore shares is being offered. Nykaa has kept the price of each share in its IPO from Rs 1,085 to 1,125. This IPO will close on 1st November. In this, interested investors can subscribe to the IPO in the next 10 days. The company got SEBI’s nod for the IPO on October 11. The equity shares of the company will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Ahead of the opening of the IPO, Nykaa and its Nykaa Fashion platform, FSN E-Commerce Ventures, have raised a fund of Rs 2,396 crore from anchor investors. Investors can bid in this IPO in a minimum of 12 shares, after which they can bid in multiples of 12 shares up to 14 lots. In this offer, 250,000 shares have been reserved for the eligible employees of the company.
With the funds raised from this IPO, Nykaa will invest in one of its subsidiaries – FSN Brands and/or Nykaa Fashion, as well as meet the capital expenditure and opening of new retail stores.
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Nykaa is today a leading company in the Beauty and Personal Care segment or BPC segment. Since its inception as an online marketplace, it has carved a niche for itself in the fashion segment and retail sector along with building its own beauty and personal care brand. It was started in 2012 by Falguni Nair, a banker turned businesswoman. It is the first company in this segment to become a female-led unicorn (unicorn refers to a startup company with a valuation of over $1 billion). It has a primary app of Nykaa for beauty and personal care, apart from Nykaa Fashion, where apparels, accessories, fashion products are associated. More than 4,000 beauty, personal care and fashion brands are associated with retail stores on its apps.
Companies like BofA Securities India, Citigroup Global Markets India, ICICI Securities, JM Financial Consultants, Kotak Mahindra Capital Company and Morgan Stanley India Company are the top managers in this IPO.